Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Brady Co. (NYSE:BRC)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Brady Co. (NYSE:BRC) by 84.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,854 shares of the industrial products company’s stock after selling 26,836 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brady were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BRC. Smartleaf Asset Management LLC boosted its stake in Brady by 213.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 461 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 314 shares during the last quarter. Point72 DIFC Ltd lifted its stake in Brady by 161.4% during the third quarter. Point72 DIFC Ltd now owns 651 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 402 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Brady by 378.1% in the 4th quarter. Principal Securities Inc. now owns 655 shares of the industrial products company’s stock worth $48,000 after buying an additional 518 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Brady by 19.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 893 shares of the industrial products company’s stock valued at $66,000 after buying an additional 143 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brady during the 4th quarter valued at about $96,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Brady Stock Performance

Shares of NYSE BRC opened at $70.51 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $72.83 and its two-hundred day moving average price is $73.75. Brady Co. has a 52-week low of $57.89 and a 52-week high of $77.68. The stock has a market capitalization of $3.37 billion, a P/E ratio of 17.32 and a beta of 0.72.

Brady (NYSE:BRC) last announced its quarterly earnings results on Friday, February 21st. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.03). The company had revenue of $356.68 million during the quarter, compared to the consensus estimate of $359.21 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. During the same period last year, the business posted $0.93 EPS. As a group, sell-side analysts forecast that Brady Co. will post 4.55 earnings per share for the current year.

Brady Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 9th will be given a $0.24 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.96 annualized dividend and a yield of 1.36%. Brady’s dividend payout ratio is presently 24.00%.

About Brady

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.